The Indian infrastructure and construction industries are expected to trigger steel consumption in the country to grow at a CAGR of around 8% during FY 2010- FY 2012.
Steel consumption in India is closely associated with manufacturing, housing and infrastructure sectors. Being a developing country, most of the industries are far away from their maturity, which kept the steel consumption rate intact in domestic market even during the testing times of recession. In order to evaluate the industry potential in the post recessionary scenario and to examine its future growth prospects, RNCOS, a leading market research firm, has come up with a new research report “Indian Steel Industry Outlook to 2012”.
The report has found that finished steel consumption has been showing uptrend for the last few years on the back of rapid development of industries like automobile, residential and non residential. Since finished steel is the prime raw material for these industries, we believe its demand will strongly inflate in coming 2-3 years to keep pace with the people’s requirements of homes, automobiles and other infrastructure necessities.
Moreover, non-alloy steel products are currently dominating steel consumption in the country. Fast infrastructural developments, consumer durables and steel packaging industries have fueled the demand for non-alloy steel. The government has also supported the non-alloy steel industry with the announcement of massive investment in railways, airport and power sectors. These developments will push the non-alloy steel demand to grow at a CAGR of 6.3% during FY 2010- FY 2012.
The report has discovered that the country’s steel imports are gaining significant momentum to meet the strong demand. To satisfy its infrastructure and construction sectors steel demand, India imported close to 9.8 Million Metric Tons of steel products in FY 2009. We anticipate that this trend will see an upward growth trajectory in coming years on the back of some concrete industry attributes analyzed thoroughly in the report.
“Indian Steel Industry Outlook to 2012” provides extensive research and rational analysis of the Indian steel industry, with focus on current outlook and future prospects. It facilitates quantitative and qualitative evaluation of steel production, consumption, segmentation, trade, industry wise steel demand, etc. The report also gives deep insight into the steel raw material industry, including coking coal, iron ore, pig iron, and limestone to help clients with all-around market intelligence of the Indian steel industry.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in todays globally competitive environment.
